Concierge gives you timely BUY and SELL alerts on ASX-listed stocks
Upgrade your Membership
Save $$$
Gold prices are soaring after the Silicon Valley Bank collapse
Nick Sundich, March 14, 2023
Gold prices have a reputation for doing well in times of economic uncertainty, at least in theory. This has not held true for most of the last couple of years, although it has been a different story in recent days.
No time to do stock research, but you still want to invest?
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
With price targets, buy ranges, stop loss levels and Sell alerts too.
GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY
Why gold prices have been doing well
Gold prices have rebounded in the past few days after the collapse of Silicon Valley Bank, reaching 4-week highs overnight.
Also helping the cause has been increasing scepticism that a so-called ‘soft landing’ (Namely lowering inflation without a recession) can be achieved by central banks.
Spot gold price, log scale (Source: TradingView)
ASX gold stocks are benefiting from higher gold prices too
Naturally, investors are flocking to gold stocks as the biggest beneficiaries of high gold prices. So several are gaining
One company with individual news was Newcrest (ASX:NCM) which gave an exploration update on its East Ridge prospect, near its Red Chris Mine in Canada.
Newcrest enhanced its exploration target to between 400MT @ 0.42g/t gold and 0.49% copper for 5.4Moz gold and 1.9Mt copper, and approximately 500Mt @ 0.39g/t gold and 0.47% copper for 6.1Moz gold and 2.3Mt copper.
Evolution Mining (ASX:EVN) was another company that is benefiting even though it hasn’t had good news of late.
The company’s Ernest Henry operation was hurt by a regional weather event and it has suspended production activities as a consequence.
Nonetheless, broker Macquarie raised the target price by 12% and raised it from underperform to neutral.
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
With price targets, buy ranges, stop loss levels and Sell alerts too.
GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY
No credit card needed and the trial expires automatically.
Stocks Down Under
Average rating: 0 reviews
Blog Categories
Recent Posts
The Humm saga showed ASIC has significant powers
At the end of last month, ASIC dropped a bombshell on Humm (ASX:HUM) and its investors. For roughly 24 hours, the…
So you stock went into voluntary administration … Is it all over now or will you get any of your money back?
Voluntary administration – these are the two words that no investor wants to hear. What will happen next and will…
CET1 ratio: If you invest in banks, you need to know this
In this article we look at the Common Equity Tier 1 (CET1) ratio – what it is and why it…